Definitely do business online.

As a leading Payment Service Provider, Pay. has set up its own Guarantee Fund to protect consumers in the event of scams and fraud, thereby increasing confidence in doing business online with Pay. customers. When a consumer is a victim of scams or fraud, Pay. can pay compensation to the consumer on a goodwill basis with the aim of mitigating the damage to the consumer.

The Pay. Guarantee Fund
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How do I qualify for the Guarantee Fund?

  1. The Guarantee Fund is only applicable in the event of scams and fraud and not in the event of bankruptcy (upcoming or future).
  2. The Merchant has included a refund period in its purchase conditions. When the deadline has passed, you can submit your complaint no later than 7 days after this date.
  3. You have contacted the merchant by phone or email and can prove this.
  4. You have initiated a dispute to which the Merchant has not responded (carefully). In addition, there is no proof of the shipment or refund. The Merchant has 7 days to send the shipment or initiate the refund.
    --> You start a dispute by looking up the payment in question. Then you click on the 'start dispute' button that appears with the transaction.
  5. You file online and include the Merchant's information below that you receive after starting a dispute:
    - Company name
    - Name webshop
    - Merchant's account number (Note: do not include Pay's account number).
    - Chamber of Commerce number
    - VAT number
    - Contact details
  6. We will send you a deed of assignment to be signed and returned. With the deed of assignment we take over the claim you have on the Merchant. If you choose not to transfer the claim by means of this deed, you cannot make use of the Guarantee Fund. You must then collect your claim from the Merchant yourself.
  7. After 21 days the guarantees will be paid out.
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What do you receive from the Pay. Guarantee Fund?

On a goodwill basis, you will receive:

  • Maximum 50% of the amount paid.
  • Maximum €150 per payment, order or account number.
  • Maximum € 1,000 per Merchant involved. If the total value is higher, compensation will be paid pro rata.
  • If, upon collection of the claim, we receive an amount from the Merchant that exceeds €1,000 (and you have not yet received the amount paid in full in return), we will make several additional disbursements on a pro rata basis up to a maximum of the amount originally paid by you (and minus the amount already disbursed from the Guarantee Fund).
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The Guarantee Fund does not pay out when...

  • you do not send the return to us.
  • you include Pay.'s account number in the return.
  • you list Pay.'s company name as the "counterparty," this should be the business owner in question.
  • you do not send a copy of the return and deed of assignment to the following e-mail address: garantiefonds@pay.nl.
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What can you assume when you pay through Pay.?

Please note that Pay. is not legally obligated to put the Guarantee Fund into effect.
  • Pay. has conducted a thorough investigation into the reliability of the Merchant. At the time of accepting and paying through, there are no indications of scams.
  • Pay. in most cases identified the shareholders, directors and signatories and screened the business owner for address and business registration.
  • In the event of disputes, Pay. may freeze assets of a Merchant.
  • Pay. blocks a Merchant from receiving 3 or more returns within 35 days.
  • Pay. may refuse, reverse or refunge payments in certain cases, not always mentioning the reason for a specific action. If we deny a payment, please think carefully before making the payment directly to the Merchant's account.

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